Perficient, Inc. (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “PERFICIENT INC helps clients acquire and strengthen customer relationships, reduce costs and empower employees by creating an Enabled Enterprise. Through their Enabled Enterprise solutions, Global 3000 companies can drive dramatic return-on-investment by unlocking the power of their existing enterprise resource planning and legacy systems. “

PRFT has been the topic of a number of other research reports. Maxim Group set a $20.00 price objective on Perficient and gave the stock a “buy” rating in a research note on Thursday, May 4th. BidaskClub lowered Perficient from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.33.

Perficient (NASDAQ PRFT) opened at 17.39 on Friday. Perficient has a one year low of $14.15 and a one year high of $20.79. The stock’s 50 day moving average price is $18.33 and its 200-day moving average price is $17.68. The firm has a market capitalization of $610.68 million, a price-to-earnings ratio of 42.21 and a beta of 0.86.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $117 million for the quarter, compared to analyst estimates of $119.21 million. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Perficient will post $1.23 earnings per share for the current fiscal year.

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In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total value of $139,356.00. Following the transaction, the director now owns 32,747 shares of the company’s stock, valued at $577,657.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares during the last quarter. Victory Capital Management Inc. increased its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock worth $119,000 after buying an additional 1,629 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Perficient by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 6,942 shares of the information technology services provider’s stock worth $129,000 after buying an additional 3,032 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock worth $135,000 after buying an additional 6,529 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares during the last quarter. Institutional investors own 76.38% of the company’s stock.

About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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